X^iy111- ' Dunn. North C«o
Gilliam Grissom, Collector Of
TV following rat—ail u h—ad
ky Collector of Interval Revenue
GUllam OriMom. District of North
“Moreheats, manofarCuroro and ba
Ma— —a gaaeially aaad experience
no difflcalty la taking their lnvantor
lea for tha yaar 1021 to conform
with the naw ravenna act. Tha lan
guage af tha Revenue Act of 1010
and tha Ravcno* Act of 1021, (Sac.
201), ralatfag to invaatorias era iden
“That wbaaavar in tha opudoo of
the Conuniaeioner tha uaa of Inven
toriao la aoea—ry ia order eteeriy
to datormlno tha income of any tax
payer, inventtortes shall be taken by
•ach taxpayer spaa sack basis as the
Cni— Imtliner with the approval of
the Secretary, —y prescribe aa con
forming aa a early aa stay bo to tha
beat accounting practice In the trade
•r business and aa moat clearly re
dacting the Income.’*
“Present Treasury regulations pro
vide that Inventories must bo valued
at either ’sort’ or ’coat or market,
whichever ia lower.' Taxpayers
wars permitted, regardless ar their
part practice, to adopt the ‘cost or
—rket basis, whichever is lower' in
—king their inrantortes for 1020.
Thereafter, the Regulations provide,
changes can be made only after per
mission it obtained from tha Com
missiontr af Internal Revenue.
* "In tha cess of a merchant ‘coat*
manna tha tnseice price leas trade or
other discounts, expecting strictly
cash discounts approximating a fair
mis mf - a. a _ a >
w D*‘ •» the option of tho tu
****** providing a consistent course
ia followed. To tho not Invoice price
ho added th. oool of transpar
toWoa and othor neesmery chargee
incurred in aegairing r-Im 0f
“In tho «aso of a mT-efaptar.r
***** provdhag at the date of the
Inventory for tho particular marchan
dlno. Tho burden of proof os to th:
correctness of the price rut* upon
the tax payer In each case. When
no open market quotations are avail
able, tho taxpayer* meet use each ev
idence of a fair market price at the
date* nearest the Inventory aa may
he available such as pwille trasac
tieas or compensation paid for caaceV
letlon of coetncts or purchase cotn
mteaentn When, because of abnor
mal conditions the taxpayer he* rcgn
Uriy sold merchandise at price* low
er then th* market bid price, the in
ventory may be valaed at each prieee
The eorreetnem of each price* will
be determined by reference to the
****** ■>•* •t the taxpayers for e
period before and after
«h* date of inventory. Price, which
very materially from the actual pric
« to eeeortalned wDl not bo accept
ed ae Nflecttep the market.
“The value of each Mom ia tho in
ventory may he measarod by eoat or
market, whichever Ie (ewer. An en
tire ebook may net bo inventoried at
eo*t aad aim at market price, and
tbe lower of the two inventories need.
Inventoriee on whatever baste tehee
will be (abject to iaveetipatton by
to# Oommimioner of Internal Rove
nae. aad the tax payer meet satisfy
the Cemminrioaer of tbe correctness
•* the price* adopted. Be meet be
prepaiej to toow both the coat aad
price of each artSela ia
9 ‘ladod ia the Inventory.
“I* the conduct of aoodorn buoinom
H " of too Irtmo* importance that
*rmr harineaa. lappa or Mall, wheth
" partner* Ip or IndM
oaai, mall maintain an exact record
for raeeipta md expemm No rpecUl
ijriu. of aooonata ie prescribed by
to! “*T*"**' b*t
theboefca toooid toow fat detail Inven
iMJtr( end similar itana
roonlvad^ in mekfnp np become tax
MUCH DAMAGE DONE BY
FOREST P1EE IN CUMBERLAND
FayaRsriHs, Dr. 17/* 'A fortst
<lto which bemed over a larp* area,
topad la Canror*( Creek township this
”Mka. It itaried on Uttlo River oaal
of Maaehatoor, and burned eaatward
to to* linden rand, a distance of
cam lap to tho Linden
mod tot mfl*. from too elty. k ti
estimated that toe area burned over
comprised tone sends of seres Fee
taneteiy, however, there was Mtth
famiap land or timbor In too area
TO AH) PROGRAM
Will AnU In Dlwaralfionboo
Plus of Dunn Farm
With all minor matter put aside
and the wont of the "hard timet"
far behind, the Dnnn Chamber of
Commerce, comprising all of the for
ward-looking basinets mtn of the
community. Is clearing Ha dacha for
strenuous action against the boll wee
vil and other evil forces that may
have designs upon ths natural de
velopment of Dunn District-resourc
es. With this end in view a mooting
•f the foil membership bat been call
ed for Wednesday night, January 11,
at which time a program mapped out
by Secretary T. L. Biddle and direc
tors of the organisation will be start
ed on its way toward fulfilment.
Inelodad in program Is a scheme
started a year ago through which
the organisation hopes to substitute
truck, food crop, cattle poultry, twins
and nail fruit production for cotton.
And the scheme has every chaw* for
voccem. The chamber is striving to
indoe# every farmer in the district
to acquire thoroughbred bogs and
cows and to plant at least small parte
of their farms to food crops and ber
rieo. Many have already promised.
General Julian S. Carr and other
wan prominent in the State have boea
nvlted to add re ee the January meet,
"« wheih will mark the begiami«
of a now roar's wort by the chamber.
During the last year the organise
ion has been badly handicapped
through a lack of funds, but next
ear ao such trouble la expected.
To Were r, even so handicapped, the
nVAblutinn Mi m vtvima fa<4aa I.
carrying the election for *200,000 is
*bool bonds and the recent election
'-h rough which th etowa disposed of
U oioctrie plant vary advaatageoas
ALL MUSK LOV0B
■•od by tba mar*
porsaao who Boday night
beard the cantata—the Light of the
World—rung by n mixed chorus of
forty voices chosen from the ehoire
of Dunn’s churches. No finer motie,
ban ever been heard in Dana and
much praise is being accorded the
Woman’s Club, under whom auspices
•-h* cantata was presented.
The cantata was given In Divine
Street Methodist church, whose great
auditorium, Sunday school rooms
balconies wore crowded to capacity
whan tho sweat strains of aa organ
prelude by Mm J. Uoyd Wade, pros
dent of the chib, heralded the open
ing of the program. Then Rev. J. H. j
Buffalo*, pastor, read a few g assess
from the Bible and lad in prayer. This
was followed by the opening choru*:'
"When Light is Come” announcing
the coming of tho Christ. Thon on
taro ugh th* woBdrotu tal* th# made
re**, ending in that eweet carol;
8U*at night) Roly night!
Woodrow otar, load thy light;
With tho angel* lot a* dng
Ailohdia to oar Xing;
J**a«, tho Savior 1* bora.
Tbo ooio, duet and qaartot part*
went aapoclally good. Mra. Harpar
Holliday and Mra John C Hodfo*
contralto and alto, mag “Skint,
Splendor Divine.” Tbi* ora* followed
by "Tho Light Bvorlaetlng,” by tho
:horot. Then followed ta ardor:
Ho. A.—“Tb# Nomo of Jtoa*”—
Soprano Solo and Doable Quartet—
**>». Herbert McKay-Mra. W. *.
ColtrwB*, Mra. Jno. rttagorald, Mra.
John Hodgoe, Mlea Gertrude Jaekaon.
^B**T*- Sotlor, Warren, M (Queen
Ho. S.—“Stag O Heaven*”—Choir,
Tenw and Baa* Daet—Moran. Cae
♦er Warren and Jaa. C. Phillip#.
H»- »■—‘There Wen Shepherd*”
—Wproo 8o|« a»d Do*bl# Quartet
rJhV *+* ritagaraU—Mra Mo
Kay. Mra HoBid.,, Hr, Hodgoe,
Mira Jaekaon. Meter*. PhflliD*. War.
•en, Bain end MeQoeea.
Ha. T.—“Glory to God la tb* High.
•«t”—Oiera* by tbo Choir.
Ho. S.—"How When Jeew Waa
Barn Solo and Choir—Mr.
Geo. W. Gardner.
Ho. —"Wonderful Baby Jtaa*“
—CentraIto Sol* and Double Quar
tet—Mra Harpor Hollltoy.
Ho. 10—"Sook Y, 0^ Lord"—
by tbo Choir.
N*. II—"Th# Light of tbo World"
—K»oal Chorw. by the Choir.
...Try •Ho—"Holy Night”—Dr
V Hr# K
L. Deaaing, Mm J. W. Pordlo, Mra
COMPANY AT ULUNTON
Drate TVU Pram MhwU
A corporation oarapooed of 1*1* ISb
and Pam villa teutMi* mb to forav
in« thi* wed for *• pmm of w
tebliohlng m piaBt on tb* oft* of tb*
old Empire Lamber'Ce., to aMite
tor* cm rat pip*, drain tU* aad other
cement product*. Tb# pleat will bo
located on tbo Norfolk Soathora mil
rood between LiUingtoa end tho Gap*
Pear river, jut outaid* tb* corporate
limit of town.
Tb* company baa acquired right*
to the property from the Standard
Sand aad Gravel Company, which
will furnta tb* near concern about
three can ef rand and gravel poo
day. Lumbar ba* bora erdorod far
tb* fraction of ibodo, etc. Contract
wa* lot Monday far tho flooring of
the property of traoi, rtuorpe, Ota,
end grading tha baa* ground for tbo
P'ant- It io the purpoae of tho rom
rrny to cure operationi immediately.
Product* of the StondaH Sand and
C.v.*rf Company are wall <uttrd for
(Ira claa* of manoCaeture. at ureQ
c< for road aad balldiag w. ik The
Sxrdard operate* « of tb* moot
c . p’ote plant* a tha country, tam
ing out a auperior grad* of grnvoL
waabed aand, day, at*. Coraoat work
on the Oilaur building in talilgb
la which the Standard product* arare
need, proved by teat to be of tho
moot darable quality.
The cement product* corporation
which ie koine chartered thla weak
will locate Its plant near tha base af
material mpply, and than nave the
freight heal. It la understood that
operations of tha company will ao>
Msa largo proportions. — Harnett
SYNDICATES IN R. C.
Eahloaa Talk Comniaataoav Haywe.
' •* Gigeatle Orga at—H—i
Wellington, Dae . IS.—Operation
af gigantic iwaonshlaa syndicate* fat
North Onrolina was reported to Pra
' "There are
to bo operated bp
in lhair tommnnttJea, in a” basin cos
way and otherwise. While not per
sonally engaged, they famish sup
plies cad money to little fallows who
are doing the work.”
Mr. Kobloat rtiofttd thi ttsAuft
and destruction of forty etOla in sixty
days in North Carolina.
N. B. Bnaa Hart fas *i nriilsat
N. B. Baas, aopartntandaat of the
attract cleaning department, loot two
fingers from kit left hand in an onto
mobUs accident on FaystUrlBa road
Friday night while rats ruing to Dnon |
oHth Marion C. Bstler. K was one |
of tha strangest accidents afar ts
happen in this locality.
Tha lights af Mr. Bauer's ear were
vary poor. A few mflas from Dana
bo taw a seen walking la tha rood.
In t» raring hie ear to tocapo Uttfa^
the man, ha collided with a wagon
that tha man was The mmmm
wm* walking U knap warm. Mr. Bam
*m thrown against the wind Aield
end Ha broken glue aeeered Me An
kers from the bead. Mr. Batter wae
net taut end little damage wae mi
fered bp the ear ar the wagon.
JOHN LEWIS JERNIGAN
IS KICKED 1Y A HULK.
John Lewie Jemlgaa, n pinlmi
farmer who rostdse a limit dlrtann
from Doan, b suffering from a eeri
oaa wound to kb head Indleted by
one of hie mules a few nights ago.
Mr. Jamigaa was kicked hy the mole
when be epened the deer to He atoll,
the animals heel strife!»g Mm ever
the eye. It wae feared that Ma AnU
wae f motored, bat after tenatmea*
by Dr. W. E. Oaltrane hare he ap
pear* to be eat *f danger.
If Ckrbtms* dee* bring peace la
Ireland Lloyd George wM ataha he
b Santa Ctaan
Erery third tom ha* an ante. Otto
*r two third* atari tale* Mrs.
. *• X- Jeffrey, Mia. Oeaer Btriekiaad^
X"- w- X. PeamaB, Mr*. MoO. Hot
llday, Mrs. Cmekatt, Mm Biwagbtoa.
,Mla* Leaab Oetaey. Mbs BaA Watt
hrook, Mb* Vtela MeMefll, Mrs. Mar
I Per KeNMey.
1 Altee—Mm F. Smith, Mm Jtm
Hedge#. Mis* Jneheea, Mb*
* T soots — M*mm Batter, Mlgh
smHh, Pbfllips, Warren.
»—oo M*mm Gardner, Beta.
McQasen, day, Denning and Snlpee
Director—Mm Harper BetBdey.
Oigaabt Mm Lloyd Wad*
u. L NOT OBLIGATED
TO AID JAPAN IN WAD
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JM. —. hartor foaakt to.